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Evotec SE — Interim / Quarterly Report 2026
May 6, 2026
151_ir_2026-05-05_6ee79036-18ed-4a4b-b3fb-7aa5dc039459.pdf
Interim / Quarterly Report
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evotec
INTERIM STATEMENT 3M 2026
Interim Statement first quarter
126
Publication date: 6 May 2026
For further information, please contact: Dr. Sarah Fakih, EVP Head of Global Communications and Investor Relations, [email protected], M. +49.(0)151 70 688 784, www.evotec.com
evotec
INTERIM STATEMENT 3M 2026
HIGHLIGHTS
- MEASURED START TO THE YEAR: D&PD BROADLY IN LINE WITH 2025 DEVELOPMENT; JUST – EVOTEC BIOLOGICS SHOWS LOW SINGLE DIGIT GROWTH IN BASE BUSINESS¹
- SIGNIFICANT PROGRESS ACROSS TECHNOLOGY-ENABLED PARTNERSHIPS AND GLOBAL HEALTH PROGRAMS IN D&PD AND JUST - EVOTEC BIOLOGICS
- EVOEQUITY WITH STRATEGIC INVESTMENT EXITS DELIVERING SIGNIFICANT CASH PROCEEDS
- 2026 GUIDANCE AND 2030 FRAMEWORK CONFIRMED
FINANCIAL PERFORMANCE REFLECTS CONTINUED SOFTNESS IN D&PD AND LOWER REVENUES IN JUST – EVOTEC BIOLOGICS
- Group revenues declined by 22% to € 156.6 m (3M 2025: € 200.0 m)
- Total D&PD revenues declined by 15% to € 119.9 m (3M 2025: € 140.6 m); demand remains affected by a persistently challenging market environment; CRO revenues expected to recover to low single-digit growth in H2 2026, with contributions by strategic partnerships becoming more visible
- Just – Evotec Biologics revenues declined by (38)% to € 36.8 m (3M 2025: € 59.4 m) primarily driven by the prior year impact of the $ 25 m Sandoz License payment in Q1 2025; segment expected to maintain strong underlying growth in 2026, with non-Sandoz and non-DoW activities expected to grow by approximately 40%
- Adjusted Group EBITDA amounted to € (21.9) m (3M 2025: € 3.1 m)
SEGMENT NEWS FLOW SHOWS STRONG PROGRESS ACROSS STRATEGIC PARTNERSHIPS AND FUNDING MOMENTUM IN PROTEIN DEGRADATION & GLOBAL HEALTH PROGRAMS
- March 23: Just – Evotec Biologics enters project agreement with BARDA to optimize biomanufacturing of antibodies against Ebola and related viruses
- March 19: Evotec receives $10 m milestone from Bristol Myers Squibb protein degradation collaboration for phase 1 clinical study initiation
- January 8: Just – Evotec Biologics awarded ~$ 1.7 m grant for AI-driven optimization of monoclonal antibody developability to support affordable access by the Gates Foundation
CORPORATE NEWS FLOW SHOWS MEANINGFUL PROGRESS IN STRATEGIC TRANSFORMATION AND COMPANY EVOLUTION
- March 10: Evotec announces ‘Horizon’ as the next inflection in its strategic transformation to accelerate growth and promote agility
- Horizon advances multi-stage transformation initiated with Priority Reset in 2024 and establishes new operating model across three pillars: operations, science and commercial execution
- Operations: Global footprint further streamlined to 10 sites to simplify organizational structures and improve cost base
¹ Base business does not include revenue from licenses, milestone fees and royalties
evotec
INTERIM STATEMENT 3M 2026
- Science: Centers of Excellence concentrate key expertise and innovation infrastructure to deepen scientific leadership and strengthen competitiveness in high-value segments
- Commercial execution: Upgraded commercial organization enables faster execution, clearer ownership and improved customer responsiveness
- New operating model designed to deliver greater agility and sustainable growth, enabling improved value creation
- Structural Horizon measures expected to generate ~€ 75 m run-rate savings by end of 2027
- Total cash restructuring charges of ~€ 100 m expected in the 2026 to 2028 period
- New phased 2026-2030 mid-term framework introduced, aligned with transformation roadmap
Events after Period-End
- Leadership and governance updates: Evotec appointed Dr. Ashiq H. Khan as Chief Commercial Officer and Dr. Ingrid Müller as Chief Operating Officer, and nominated Dieter Weinand as Supervisory Board Chairman
- Evotec to receive approx. $100 m from equity stake as part of Tubulis acquisition by Gilead Sciences. The company is eligible to receive up to approximately $58 m in additional contingent consideration in line with its equity participation and subject to the achievement of specified milestones.
- Evotec announces CFO transition to Claire Hinshelwood as successor to Paul Hitchin as of May 1, 2026
FULL-YEAR GUIDANCE 2026
- Group revenues of approximately € 700-780 m (€ 730-810 m CER)
- Adjusted Group EBITDA of approximately € 0-40 m (€ 10-50 m CER)
2026 represents a transition year as Horizon is implemented, with operational improvements expected to become increasingly visible in the second half of the year.
MID-TERM FRAMEWORK 2026 - 2030
- Group revenues are expected to grow to > € 1 bn (8-12% CAGR)
- Adjusted EBITDA margin is expected to reach 20% by 2028 and exceed that level by 2030
evotec
INTERIM STATEMENT 3M 2026
FINANCIAL HIGHLIGHTS
The following table provides an overview of the financial performance in the first three months of 2026 compared to the same period in 2025. More detailed information can be found on page 5 of this interim statement.
Key figures of consolidated income statement & segment information
Evotec SE & subsidiaries – First three months of 2026 and 2025
| Three months ended March 31, 2026 | Three months ended March 31, 2025 | |||||||
|---|---|---|---|---|---|---|---|---|
| In k€ | D&PD | JEB | Inter-segment Eliminations | Evotec Group | D&PD | JEB | Inter-segment Eliminations | Evotec Group |
| Revenue¹) | 119,800 | 36,844 | 156,644 | 140,590 | 59,389 | 199,978 | ||
| Intersegment revenue | 97 | — | (97) | — | 2 | — | (2) | — |
| Cost of Revenue* | (112,721) | (45,589) | 97 | (158,212) | (119,371) | (47,373) | 2 | (166,742) |
| Gross profit (loss) | 7,176 | (8,744) | — | (1,569) | 21,221 | 12,015 | — | 33,236 |
| Gross margin in % | 6% | (24)% | —% | (1)% | 11% | 20% | —% | 14% |
| Research and development* | (10,081) | — | — | (10,081) | (14,877) | (52) | — | (14,929) |
| Selling, general and administrative expenses* | (34,827) | (8,961) | — | (43,788) | (41,179) | (8,356) | — | (49,536) |
| Other operating income | 11,930 | 527 | — | 12,457 | 12,312 | 665 | — | 12,977 |
| Other operating expense | (2,823) | (618) | — | (3,442) | (904) | (660) | — | (1,564) |
| Reorganization costs | (74,974) | — | — | (74,974) | (192) | — | — | (192) |
| Operating income (loss) | (103,599) | (17,797) | — | (121,396) | (23,620) | 3,611 | — | (20,008) |
| Adjusted EBITDA | (9,800) | (12,051) | — | (21,851) | (6,856) | 9,964 | — | 3,107 |
¹) Group revenue would have amounted to € 166,890 k at constant exchange rates.
*Certain costs previously reported within Cost of Revenue have been reclassified to Research and development and Selling, general and administrative expenses to align with the revised function of the underlying cost centers as a result of a reorganization. The reclassification relates primarily to In Silico & Bioinformatics as well as Alliance Management. In accordance with IAS 1 Presentation of Financial Statements, comparative prior-year figures have been adjusted accordingly to conform to the current period presentation. For the three months ended March 31, 2025, costs of € 6.0 m previously presented as Cost of Revenue have been reclassified to Research and development and Selling, general and administrative expenses in the amount of € 4.2 m and € 1.8 m, respectively. These reclassifications solely impact the D&PD segment.
evotec
INTERIM STATEMENT 3M 2026
REPORT ON THE FINANCIAL SITUATION AND RESULTS
1. Results of operations
During the three months ended March 31, 2026
Group revenue decreased by 21.7% to € 156.6 m compared to the same period of the previous year (3M 2025: € 200.0 m). The decrease was driven by 14.8% lower revenues in the Discovery & Preclinical Development (D&PD) segment, whereas Just – Evotec Biologics contributed € 36.8 m during the three months ended March 31, 2026 versus € 59.4 m in the comparable prior year period. Excluding negative fx-effects, Group revenue decreased by 16.5% to € 166.9 m. Excluding the license sale to Sandoz in Q1 2025, revenues decreased by 5.6% from € 176.9 m in 3M 2025 to € 166.9 m in the three months ended March 31, 2026, driven by the continued softer market for early stage discovery.
The Cost of revenue for the three months ended March 31, 2026 amounted to € 158.2 m (3M 2025: € 166.7 m) yielding a gross margin of (1.0)% (3M 2025: 16.6%). The decrease of Cost of revenues was driven by lower personnel costs and lower project and material costs in both segments. D&PD saw continued underutilization which is being addressed as part of Project Horizon.
R&D expenses amounted to € 10.1 m, compared to € 14.9 m in the three months ended March 31, 2025 (32.5% reduction), as investment continues to be tightly controlled on projects most relevant to our partners.
SG&A expenses for the three months ended March 31, 2026 amounted to € 43.8 m and were thus € 5.7 m or 11.6% lower compared to last year (3M 2025: € 49.5 m) mainly driven by the JUST EU exit, lower personnel expenses, and reduced IT business consultancy costs.
For the three months ended March 31, 2026, other operating income amounted to € 12.5 m, compared with € 13.0 m in the corresponding prior-year period. The year-on-year variance was predominantly driven by two offsetting effects. On the one hand, we recognized € 2.5 m one-off insurance income related to the 2023 cyber incident in the prior period, which did not recur in 2026. On the other hand, during the three months ended March 31, 2026, Evotec accounted for € 2.2 m of income related to transition services in connection with the sale of JUST EU (3M 2025: € 0.0 m).
Other operating expenses amounted to € 3.4 m for the three months ended March 31, 2026, representing an increase of € 1.9 m compared with the prior-year period (3M 2025: € 1.6 m). The increase was primarily driven by € 1.4 m of expenses related to transition services in connection with the sale of JUST EU.
Reorganization costs amounted to € 75.0 m in the three months ended March 31, 2026 (3M 2025: € 0.2 m). These costs are driven exclusively by the initial provision for future expenditures and asset impairments related to the recently announced Project Horizon.
Adjusted Group EBITDA for the three months ended March 31, 2026 amounted to € (21.9) m (3M 2025: € 3.1 m) primarily driven by the Sandoz License sale in Q1 2025, as well as negative FX-impact of € 3 m.
The net income (loss) as of March 31, 2026 amounted to € (121.9) m (3M 2025: € (31.6) m), driven largely by the operating loss, which increased due to the reorganization provision and lower revenues, and only slightly offset by an increased deferred tax income.
evotec
INTERIM STATEMENT 3M 2026
2. Results of operations in Discovery & Preclinical Development and Just – Evotec Biologics
In the D&PD segment revenue (incl. intersegment revenues), decreased by (14.7)% to € 119.9 m (3M 2025: € 140.6 m) due to a still challenging market environment, and negative FX-impacts. In constant currency, revenues decreased by (10.0)%.
Cost of revenue within D&PD amounted to € 112.7 m in the three months ended March 31, 2026 (3M 2025: € 119.4 m) driven by lower personnel expense and lower project and material costs. This corresponds to a gross margin of 6.0% (3M 2025: 10.8%). R&D expenses came in at € 10.1 m (3M 2025: € 14.9 m). SG&A expenses decreased by (15.4)% to € 34.8 m (3M 2025: € 41.2 m), mainly caused by reduced IT consultancy expense and lower personnel expense. For the three months ended March 31, 2026, other operating income amounted to € 11.9 m, compared to € 12.3 m for the comparable prior year period. Other operating expenses were € 2.8 m (3M 2025: € 0.9 m) driven by expenses related to transition services in connection with the sale of JUST EU. In the first three months of 2026, Reorganization expenses totalling € 75.0 m related to the Horizon program were incurred (3M 2025: € 0.2 m).
The adjusted EBITDA of the Discovery & Preclinical Development (D&PD) segment was € (9.8) m (3M 2025: € (6.9) m), due to lower revenues which were mostly offset by reduced Costs of revenues, R&D, and SG&A expenses.
Revenue (incl. intersegment revenue) within Just – Evotec Biologics decreased to € 36.8 m (3M 2025: € 59.4 m). This decline of (38.0)% was driven by the USD 25 m Sandoz License sale from Q1 2025. Excluding this effect and negative FX-impact, revenues increased by 11.3%. Cost of revenue was € 45.6 m in the first three months of 2026, compared to € 47.4 m within the three months ended March 31, 2025. The decrease was driven by the sale of the Toulouse site in Q4 2025, offset partially by temporarily higher material and project costs due to production phasing. Due to the above effects, gross margin decreased to (23.7)% in the first quarter 2026 from 20.2% in the first three months of 2025. SG&A expenses (3M 2026: € 9.0 m vs. 3M 2025: € 8.4 m) were broadly in line with prior year.
The adjusted EBITDA within Just – Evotec Biologics has decreased to € (12.1) m (3M 2025: € 10.0 m) mainly driven by 2025 Sandoz License sale.
3. Financing and financial position
Cash flow used in operating activities in the first three months of 2026 was € (3.9) m (3M 2025: € (31.8) m). The decrease in cash outflow is related to favorable changes in working capital compared to the first three months of 2025.
Net cash used in investing activities for the three months ended March 31, 2026 amounted to € (12.4) m (3M 2025: € (21.6) m). Capital expenditure decreased to € (4.2) m (3M 2025: € (18.2) m), primarily reflecting reduced investments after the sale of JUST EU at the end of 2025. The decrease in capital expenditure was partially offset by an increase in purchase of intangible assets and additions to capitalized development expenditures by € (3.0) m to € (6.6) m (3M 2025: € (3.6) m), transaction costs related to the disposal of affiliate companies amounting to € (3.9) m (3M 2025: € – m) and lower net proceeds from current investments that decreased by € 3.2 m to € 0.9 m (3M 2025: € 4.1 m).
Net cash provided by (used in) financing activities amounted to € (19.1) m in the three months ended March 31, 2026 (3M 2025: € 35.4 m).
evotec
INTERIM STATEMENT 3M 2026
The decrease is primarily attributable to the non-recurrence of proceeds from loans (3M 2025: € 44.0 m) and increased loan repayments (3M 2026: € (12.2) m; 3M 2025: € (1.1) m).
Cash and cash equivalents amounted to € 387.9 m as of March 31, 2026 (December 31, 2025: € 418.5 m). Total Liquidity in the first three months of 2026 decreased by € (31.6) m to € 444.8 m (December 31, 2025: € 476.4 m).
4. Assets, liabilities, and stockholders' equity
Assets
Between December 31, 2025 and March 31, 2026, total assets decreased by € 74.1 m to € 1,639.8 m (December 31, 2025: € 1,713.9 m).
Trade and other receivables decreased by € 37.7 m to € 98.3 m (December 31, 2025: € 136.0 m). The decrease is mainly due to cash receipts related to the License Agreement signed in December 2025 as part of the Sandoz transaction.
Property, plant and equipment decreased by € 23.8 m to € 530.8 m (December 31, 2025: € 554.6 m). The decrease is mainly due to planned footprint reductions affecting lease terms considered for Right-of-Use assets and impairments related to Project Horizon (see Note 5. Project Horizon for additional information).
Prepaid expenses and other current assets increased by € 13.1 m to € 43.5 m (December 31, 2025: € 30.5 m) primarily due to an increase in prepayments for insurances, IT and software licenses as well as subscription fees.
Liabilities
Between December 31, 2025 and March 31, 2026, total liabilities increased by € 40.0 m to € 940.2 m (December 31, 2025: € 900.2 m).
Current and Non-Current provisions
increased by € 118.4 m to € 195.0 m (December 31, 2025: € 76.6 m) mainly due to Horizon, including headcount and footprint related provisions, along with reclassifications in the amount of € 43.0 m comprised of certain lease liabilities related to impacted leases.
Current and Non-current financial liabilities decreased by € 61.3 m to € 387.5 m (December 31, 2025: € 448.7 m) mainly due to the repayment of loans and the revaluation and reclassification of certain lease liabilities in the amount of € 43.0 m to the restructuring provision related to Project Horizon.
Trade and other payables decreased by € 9.9 m to € 54.9 m (December 31, 2025: € 64.8 m). The decrease occurred in the normal course of the business.
Stockholders' equity
Total stockholders' equity decreased by € 114.1 m to € 699.6 m (December 31, 2025: € 813.7 m) predominantly as a result of the net loss of the three months ended March 31, 2026 of € (121.9) m and a change in other comprehensive income of € 6.8 m, driven by foreign currency translation adjustments.
Evotec's equity ratio as of March 31, 2026 decreased to 42.7% (December 31, 2025: 47.5%).
evotec
INTERIM STATEMENT 3M 2026
5. Project Horizon
On March 10, 2026, Evotec announced ‘Horizon’, the next phase in its multi-stage transformation initiative. Horizon advances the company’s evolution by implementing a new and focused operating model built across the three pillars of operations, science, and commercial execution.
For the three months ended March 31, 2026, Evotec recorded reorganization costs totaling € 75.0 m. These costs are directly attributable to the restructuring measures that are necessary for the restructuring and are not related to operating activities. Of the reorganization costs, significant portions include € 56.4 m attributable to personnel measures (including severance payments) and € 14.9 m attributable to impairment losses on property, plant, and equipment. The measurement of restructuring provisions is based on estimates and assumptions regarding the amount of severance payments, the timeline for the implementation of the measures and the progress in discussions in accordance with local laws and regulations. The measurement assumptions are regularly reviewed as the restructuring program progresses.
6. Human Resources
Employees
Headquartered in Hamburg, Germany, the Evotec Group employed an average of 4,526 people globally for the three months ended March 31, 2026 (average for the year ended December 31, 2025: 4,757 employees). In addition, the divestiture of Just-Evotec Biologics EU completed in December 2025 resulted in an overall reduction of employee headcount.
evotec
INTERIM STATEMENT 3M 2026
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS¹
Evotec SE and Subsidiaries
Consolidated interim income statement for the period from January 1 to March 31, 2026
| in k€ except share and per share data | Three months ended March 31, 2026 | Three months ended March 31, 2025 |
|---|---|---|
| Revenue | 156,644 | 199,978 |
| Cost of Revenue* | (158,212) | (166,742) |
| Gross profit (loss) | (1,569) | 33,236 |
| Operating income (expenses) | ||
| Research and development* | (10,081) | (14,929) |
| Selling, general and administrative expenses* | (43,788) | (49,536) |
| Other operating income | 12,457 | 12,977 |
| Other operating expenses | (3,442) | (1,564) |
| Reorganization costs | (74,974) | (192) |
| Total operating income (expenses) | (119,828) | (53,244) |
| Operating income (loss) | (121,396) | (20,008) |
| Non-operating income (expense) | ||
| Gain (loss) on investment in financial instruments revaluation | 192 | — |
| Share of profit (loss) and revaluation of at-equity investments | (286) | (571) |
| Other financial income | 1,793 | 1,216 |
| Other financial expense | (2,583) | (2,407) |
| Other non-operating income (expense) | 100 | (8,082) |
| Net income (loss) before taxes | (122,180) | (29,851) |
| Income taxes | 244 | (1,726) |
| Net income (loss) | (121,936) | (31,577) |
| Weighted average shares outstanding | 177,562,407 | 177,526,086 |
| Net result per share (basic) | (0.69) | (0.18) |
*Certain costs previously reported within Cost of Revenue have been reclassified to Research and development and Selling, general and administrative expenses to align with the revised function of the underlying cost centers as a result of a reorganization. The reclassification relates primarily to In Silico & Bioinformatics as well as Alliance Management. In accordance with IAS 1 Presentation of Financial Statements, comparative prior-year figures have been adjusted accordingly to conform to the current period presentation. For the three months ended March 31, 2025, costs of € 6.0 m previously presented as Cost of Revenue have been reclassified to Research and development and Selling, general and administrative expenses in the amount of € 4.2 m and € 1.8 m, respectively.
¹ Each financial statement line item is rounded individually. Totals and subtotals may therefore deviate slightly from the sum of the individual line items
evotec
INTERIM STATEMENT 3M 2026
Evotec SE and Subsidiaries
Consolidated interim statement of financial position as of March 31, 2026
| in k€ | as of March 31, 2026 as of December 31, 2025 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 387,912 | 418,517 |
| Investments | 56,851 | 57,873 |
| Trade and other receivables | 98,259 | 135,963 |
| Contract assets | 35,322 | 28,295 |
| Inventories | 32,982 | 29,317 |
| Current tax assets | 33,470 | 38,453 |
| Other current financial assets including derivatives | 19,020 | 20,217 |
| Prepaid expenses and other current assets | 43,549 | 30,480 |
| Assets classified as held for sale | 3,914 | 3,830 |
| Total current assets | 711,278 | 762,945 |
| Non-current assets: | ||
| Non-current investments and other non-current financial assets | 48,965 | 48,004 |
| Investments in associates and joint ventures | 4,346 | 4,629 |
| Property, plant and equipment | 530,840 | 554,626 |
| Intangible assets and goodwill | 305,407 | 303,936 |
| Deferred tax assets | 1,686 | 2,949 |
| Non-current tax assets | 36,873 | 36,349 |
| Other non-current assets | 418 | 507 |
| Total non-current assets | 928,534 | 951,000 |
| Total assets | 1,639,812 | 1,713,945 |
evotec
INTERIM STATEMENT 3M 2026
in k€
as of March 31, 2026 as of December 31, 2025
LIABILITIES AND STOCKHOLDERS' EQUITY
| Current liabilities: | ||
|---|---|---|
| Current financial liabilities | 88,615 | 104,720 |
| Trade and other payables | 54,900 | 64,763 |
| Contract liabilities | 111,733 | 104,849 |
| Deferred income | 2,953 | 3,220 |
| Provisions | 130,826 | 58,543 |
| Current income tax liabilities | 9,519 | 10,578 |
| Other current liabilities | 24,828 | 21,401 |
| Total current liabilities | 423,374 | 368,074 |
Non-current liabilities:
| Non-current financial liabilities | 298,847 | 344,008 |
|---|---|---|
| Deferred tax liabilities | 12,668 | 14,735 |
| Provisions | 64,174 | 18,035 |
| Contract liabilities | 132,079 | 145,324 |
| Deferred income | 7,714 | 8,350 |
| Other non-current liabilities | 1,337 | 1,715 |
| Total non-current liabilities | 516,819 | 532,167 |
Stockholders' equity:
| Share capital | 177,878 | 177,779 |
|---|---|---|
| Treasury shares, at cost | (1,139) | (1,548) |
| Additional paid in capital | 1,459,025 | 1,458,466 |
| Retained Earnings | (897,823) | (775,887) |
| Accumulated other comprehensive income | (38,321) | (45,106) |
| Total stockholders' equity | 699,620 | 813,704 |
| Total liabilities and stockholders' equity | 1,639,812 | 1,713,945 |
evotec
INTERIM STATEMENT 3M 2026
Evotec SE and Subsidiaries
Condensed consolidated interim statement of cash flows for the three months ended March 31, 2026
| in k€ | Three months ended March 31, 2026 | Three months ended March 31, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | (121,936) | (31,577) |
| Adjustments to reconcile net income to net cash used in operating activities | 46,530 | 32,971 |
| Change in assets and liabilities | 71,490 | (33,201) |
| Net cash provided by (used in) operating activities | (3,916) | (31,808) |
| Cash flows from investing activities: | ||
| --- | --- | --- |
| Interest Received | 1,871 | 1,309 |
| Purchase of property, plant and equipment | (4,163) | (18,198) |
| Proceeds from sale of property, plant and equipment | 81 | 98 |
| Purchase of intangible assets and additions to capitalized development expenditures | (6,625) | (3,640) |
| Investments to acquire associated companies, other non-current investments and convertibles | (650) | (5,279) |
| Proceeds from sale of current investments | 905 | 4,105 |
| Proceeds from (payments due to) the disposal of affiliated companies | (3,854) | — |
| --- | --- | --- |
| Net cash provided by (used in) investing activities | (12,434) | (21,607) |
| Cash flows from financing activities: | ||
| --- | --- | --- |
| Interest Paid | (101) | (1,006) |
| Proceeds from loans | — | 43,961 |
| Proceeds from the exercise of share options | 99 | 210 |
| Repayment of loans | (12,198) | (1,118) |
| Repayment of lease liabilities | (6,889) | (6,619) |
| Net cash provided by (used in) financing activities | (19,090) | 35,429 |
| Net increase (decrease) in Cash and cash equivalents | (35,440) | (17,985) |
| --- | --- | --- |
| Effects of revaluation and of movements in exchange rates on cash held | 4,835 | (3,024) |
| Cash and cash equivalents at beginning of year | 418,517 | 306,387 |
| Cash and cash equivalents at end of the period | 387,912 | 285,377 |
evotec
INTERIM STATEMENT 3M 2026
The following table shows the reconciliation of operating income (loss) to Adjusted EBITDA:
| in k€ | Three months ended March 31, 2026 | Three months ended March 31, 2025 |
|---|---|---|
| Operating income (loss) | (121,396) | (20,008) |
| Depreciation of tangible assets | 22,153 | 23,181 |
| Amortization of intangible assets | 1,667 | 1,965 |
| External cyber-related costs, net of reimbursements | — | (2,223) |
| Reorganization costs | 75,725 | 192 |
| Adjusted EBITDA | (21,851) | 3,107 |
Subsequent Events
On April 7, 2026, the company announced that Evotec SE is expected to receive approximately $100 m in upfront consideration upon closing of the sale of Tubulis GmbH to Gilead Sciences. Evotec is eligible to receive up to approximately $58 m in additional contingent consideration in line with its equity participation and subject to the achievement of specified milestones. Closing of the transaction is expected in the second quarter of 2026, subject to customary closing conditions. Evotec SE held a minority equity stake in Tubulis GmbH.
On April 15, 2026, the company announced that the Supervisory Board of Evotec SE appointed Dr. Ingrid Müller as Chief Operating Officer and member of the Management Board with effect from May 1, 2026.
On April 24, 2026, the company announced that Paul Hitchin will step down as Chief Financial Officer on April 30, 2026. The Supervisory Board of Evotec SE appointed Claire Hinshelwood as Chief Financial Officer and member of the Management Board with effect from May 1, 2026.
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